Oilfield Service Companies: BJ Services Company

BJ Services Company was an oil and gas equipment and services company that is now a subsidiary of Baker Hughes.

It was founded in 1872 as the Byron Jackson Company by inventor Byron Jackson and at its peak operated in more than 50 countries worldwide.

The link below from fundinguniverse.com tells how BJ was acquired by Hughes Tool and then became independent when Baker Tool bought Hughes and was recently acquired by Baker-Hughes.

BJ Services Company is a leading worldwide provider of pressure pumping and oilfield services for the petroleum industry. Pressure pumping services consist of cementing and stimulation services used in the completion of new oil and natural gas wells and in remedial work on existing wells, both onshore and offshore. Oilfield services include completion tools, completion fluids, casing and tubular services, production chemical services, and precommissioning, maintenance and turnaround services in the pipeline and process business, including pipeline inspection.

On April 28, 2010, the company was bought by Baker Hughes in a $5.5 billion stock and cash deal. Greenhill & Co.advised on the transaction.